Why So Many Americans Leave Social Security Money on the Table
We’re excited to share that Cade Bekanich, CFP®, was recently featured in a Yahoo Finance article discussing one of the most important retirement planning decisions Americans face: when to claim Social Security benefits.
The article, “Why So Many Americans Leave Social Security Money on the Table,” explores why many retirees choose to claim benefits early, even though delaying benefits can significantly increase their monthly income over time. According to the article, more than a quarter of Social Security beneficiaries begin collecting benefits at age 62, while only a small percentage wait until age 70 to maximize their benefit.
The Real Reason People Claim Early
As Cade highlighted, Social Security decisions often come down to one thing:
Income needs come first.
While many people understand that delaying benefits can increase future payments, real-life financial pressures often make that difficult. Retirement isn’t just about maximizing a benefit. It’s about creating a strategy that supports your lifestyle, provides confidence, and aligns with your overall financial picture.
That’s why Social Security should never be viewed in isolation.
Social Security Is More Than a Monthly Check
One of the most common misconceptions Cade sees is treating Social Security as an afterthought in retirement planning.
Social Security can be one of the most valuable income sources available because it provides:
- Guaranteed lifetime income
- Inflation-adjusted benefits through annual COLAs
- Survivor benefits for married couples
- A foundation for a comprehensive retirement income plan
As Cade often explains, the decision isn’t simply whether to claim at 62, 67, or 70. The question is: How does Social Security fit into your overall retirement strategy?
Every Retirement Plan Is Different
The “best” claiming age depends on several factors, including:
- Income needs
- Health and life expectancy
- Marital status
- Other retirement assets
- Pension income
- Tax planning opportunities
- Legacy planning goals
For some retirees, claiming early may be the right choice. For others, delaying benefits can create significantly more guaranteed income over their lifetime.
The key is understanding the tradeoffs before making a permanent decision.
Recognition Reflects Our Commitment to Education
We’re honored to see Cade recognized by a national financial publication such as Yahoo Finance. This feature reflects what we believe every day:
Good retirement planning starts with education.
Too often, people make major retirement decisions based on assumptions, incomplete information, or generic advice found online. Our goal is to help clients understand their options and build a strategy tailored to their specific goals and circumstances.
Ready to Talk About Your Social Security Strategy?
If you’re approaching retirement and wondering:
- When should I claim Social Security?
- Should I delay benefits?
- How will claiming affect my spouse?
- What impact will taxes have on my retirement income?
We’re here to help. A thoughtful Social Security strategy can make a meaningful difference in your retirement income and long-term financial confidence.
Congratulations to Cade Bekanich on being featured in Yahoo Finance and thank you to everyone who continues to trust us with their retirement planning journey.
Read the Article
Why So Many Americans Leave Social Security Money on the Table
Learn More About Cade
Follow Cade’s retirement planning insights and educational content on LinkedIn and YouTube, where he regularly discusses Social Security, tax planning, retirement income strategies, and more.
